EXAMINING THE CROSS-INDUSTRY RELATIONS IN THE GREEK ECONOMY DURING THE ECONOMIC CRISIS USING I-O ANALYSIS

• Published in: Theoretical and Empirical Researches in Urban Management Vol. 19; no. 4; pp. 5 - 27
• Main Authors: Polyzos, Serafeim, Kantianis, Dimitrios, KRABOKOUKIS, Thomas
• Format: Journal Article
• Language: English
• Published: Bucharest Academy of Economic Studies - Research Center in Public Administration and Public Services 01.11.2024; Academia de Studii Economice - Centrul de Cercetare in Administratie si Servicii Publice (CCASP); Academia de Studii Economice Bucuresti; Research Centre in Public Administration & Public Services
• Subjects: Business Economy / Management; Development policy; Economic aspects; Economic conditions; Economic crisis; Economic development; Economic growth; Economic policy; Economics; Economy; Input-output analysis; Interconnections; Macroeconomics; Recessions; Structural members; Unemployment; Greece; Greek economic crisis; InputOutput Analysis; economic changes; structural changes; Crossindustry relations
• ISSN: 2065-3913; 2065-3921

The crisis that the Greek economy went through during the decade 2010-2020 had certain characteristics, which are worth studying, since they can be exploited in the future. The structural characteristics and weaknesses of the Greek economy are mentioned in the literature among the main factors that caused the economic crisis or did not allow a quick “exit” from it. The effectiveness of the interventions that seek to stimulate economic development depends to a large extent on the understanding of the general characteristics of the economy and mainly of the interconnections of the productive sectors. The study of some of the structural characteristics of the Greek economy during the 2nd period of the crisis, i.e. the period 2015-2020, is the aim of this article. Initially, the evolution of some basic macroeconomic features of the Greek economy is analyzed. Then, occurred structural changes during the above period are calculated using the Input-Output (I-O) Tables of the years 2015 and 2020, which provide a satisfactory framework for describing the interconnections between productive sectors of an economy. The analysis of the structural elements of the Greek economy during the period of the economic crisis can provide important information to be used for a successful future implementation of economic development policies. In particular, the information provided by the I-O Analysis is particularly important, since it satisfactorily describes the interconnection and operation of the productive sectors of the economy.